PIEZEREL CONSTRUCT: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PIEZEREL CONSTRUCT
Largest movements
- Cash -€8,493
down €8,493 (-73.7%), from €11,531 to €3,038
mainly Trade debts (-€35,628) and Investment in fixed assets (net) (-€11,666)
- Receivables within one year -€8,047
down €8,047 (-5.1%), from €156,893 to €148,846
of which Other amounts receivable: -€32,168
- Trade debts -€35,628
down €35,628 (-42.6%), from €83,575 to €47,947
- Profit (loss) carried forward +€25,910
up €25,910 (+32.5%), from €79,732 to €105,642
- Current portion of long-term debt -€8,512
no longer reported in 2025 (was €8,512)
- Tax, wage and social debts +€3,594
up €3,594 (+52.0%), from €6,908 to €10,502
- Financial income +€12,166
up €12,166 (+213.7%), from €5,692 to €17,858
- Gross operating margin -€6,041
down €6,041 (-18.1%), from €33,329 to €27,288
- Depreciation -€5,398
down €5,398 (-33.2%), from €16,267 to €10,869
- Taxes -€3,757
down €3,757 (-33.4%), from €11,259 to €7,502
- Financial charges -€781
down €781 (-68.5%), from €1,140 to €359
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €179,277 | €164,641 | -€14,636 | -8.2% |
| Fixed assets | 21/28 | €10,853 | €11,649 | +€796 | +7.3% |
| Tangible fixed assets | 22/27 | €10,853 | €11,649 | +€796 | +7.3% |
| Furniture and vehicles | 24 | €10,853 | €11,649 | +€796 | +7.3% |
| Current assets | 29/58 | €168,424 | €152,992 | -€15,432 | -9.2% |
| Amounts receivable within one year | 40/41 | €156,893 | €148,846 | -€8,047 | -5.1% |
| Trade receivables | 40 | €34,786 | €58,907 | +€24,121 | +69.3% |
| Other amounts receivable | 41 | €122,107 | €89,939 | -€32,168 | -26.3% |
| Cash at bank and in hand | 54/58 | €11,531 | €3,038 | -€8,493 | -73.7% |
| Deferred charges and accrued income | 490/1 | - | €1,108 | +€1,108 | |
| Total equity and liabilities | 10/49 | €179,277 | €164,641 | -€14,636 | -8.2% |
| Equity | 10/15 | €80,282 | €106,192 | +€25,910 | +32.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Capital | 10 | €500 | - | -€500 | |
| Issued capital | 100 | €500 | - | -€500 | |
| Outside capital | 11 | - | €500 | +€500 | |
| Other | 1109/19 | - | €500 | +€500 | |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50 | - | -€50 | |
| Legal reserve | 130 | €50 | - | -€50 | |
| Distributable reserves | 133 | - | €50 | +€50 | |
| Profit (loss) carried forward | 14 | €79,732 | €105,642 | +€25,910 | +32.5% |
| Amounts payable | 17/49 | €98,995 | €58,450 | -€40,545 | -41.0% |
| Amounts payable within one year | 42/48 | €98,995 | €58,450 | -€40,545 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €8,512 | - | -€8,512 | |
| Trade debts | 44 | €83,575 | €47,947 | -€35,628 | -42.6% |
| Suppliers | 440/4 | €83,575 | €47,947 | -€35,628 | -42.6% |
| Taxes, remuneration and social security | 45 | €6,908 | €10,502 | +€3,594 | +52.0% |
| Taxes | 450/3 | €6,908 | €10,502 | +€3,594 | +52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,267 | €10,869 | -€5,398 | -33.2% |
| Other operating charges | 640/8 | €500 | €506 | +€6 | +1.3% |
| Gross operating margin | 9900 | €33,329 | €27,288 | -€6,041 | -18.1% |
| Operating profit (loss) | 9901 | €16,562 | €15,912 | -€650 | -3.9% |
| Financial income | 75/76B | €5,692 | €17,858 | +€12,166 | +213.7% |
| Recurring financial income | 75 | €5,692 | €17,858 | +€12,166 | +213.7% |
| Financial charges | 65/66B | €1,140 | €359 | -€781 | -68.5% |
| Recurring financial charges | 65 | €1,140 | €359 | -€781 | -68.5% |
| Profit (loss) for the period before taxes | 9903 | €21,114 | €33,412 | +€12,298 | +58.2% |
| Income taxes | 67/77 | €11,259 | €7,502 | -€3,757 | -33.4% |
| Profit (loss) for the period | 9904 | €9,855 | €25,909 | +€16,054 | +162.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,855 | €25,909 | +€16,054 | +162.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.